US and Canadian rig counts continue to rise

US and Canadian rig counts continue to rise

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Baker Hughes has reported that for the week ending October 30, the US rotary rig count increased by nine to 296 rigs. The number of rigs drilling for gas decreased by one to 72, while the number of rigs drilling for oil increased by 10 to 221. The overall rig count is now down by 526 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count increased by three to 86 rigs in the week ending October 30. The Canadian rig count is now down by 56 rigs compared to the same week a year ago.

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